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Direct tax collections up 20% in Apr-Jan this fiscal

Direct tax collections up 20% in Apr-Jan this fiscal
PTI
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First Published: Mon, Feb 07 2011. 04 46 PM IST
Updated: Mon, Feb 07 2011. 04 46 PM IST
New Delhi: Helped by robust economic growth, the government collected Rs3,17,501 crore from direct taxes during April-January 2010-11, up 20.37% from the year-ago perod.
Corporate income tax at Rs2,16,872 crore was up by 24.78%, while personal income tax grew by 11.87% to Rs1,00,191 crore during this ten-month period.
According to the Central Board of Direct Taxes (CBDT), direct tax collections were “buoyant”.
Tax refunds also increased by 38.65% at Rs53,688 crore.
The Indian economy is projected to grow by 8.6% in this financial year.
Agriculture and allied activities are expected to grow at 5.4% in 2010-11 compared to just 0.4% in the previous financial year.
While services such as trade, hotel, transport and communications improved to 11% from 9.7%, the manufacturing would grow at 8.8% year on year.
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First Published: Mon, Feb 07 2011. 04 46 PM IST